New York State Teachers Retirement System lowered its stake in Gannett Co., Inc. (NYSE:GCI – Get Rating) by 10.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 138,116 shares of the company’s stock after selling 15,442 shares during the period. New York State Teachers Retirement System’s holdings in Gannett were worth $211,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Citigroup Inc. boosted its position in shares of Gannett by 6.0% during the first quarter. Citigroup Inc. now owns 137,891 shares of the company’s stock valued at $622,000 after buying an additional 7,813 shares during the period. MetLife Investment Management LLC boosted its position in shares of Gannett by 23.5% during the first quarter. MetLife Investment Management LLC now owns 61,241 shares of the company’s stock valued at $276,000 after buying an additional 11,648 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Gannett by 14.1% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 122,701 shares of the company’s stock valued at $553,000 after purchasing an additional 15,129 shares during the period. Canada Pension Plan Investment Board boosted its holdings in shares of Gannett by 161.1% in the first quarter. Canada Pension Plan Investment Board now owns 577,000 shares of the company’s stock valued at $2,602,000 after purchasing an additional 356,000 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Gannett by 6.6% in the first quarter. Vanguard Group Inc. now owns 9,886,438 shares of the company’s stock valued at $44,587,000 after purchasing an additional 610,260 shares during the period. Hedge funds and other institutional investors own 68.38% of the company’s stock.
Gannett Stock Performance
Shares of NYSE:GCI opened at $2.04 on Friday. The company has a market capitalization of $298.03 million, a price-to-earnings ratio of -2.10 and a beta of 2.48. Gannett Co., Inc. has a 52 week low of $1.25 and a 52 week high of $6.38. The company has a quick ratio of 0.72, a current ratio of 0.78 and a debt-to-equity ratio of 3.55. The firm has a 50 day moving average of $2.24 and a 200 day moving average of $2.17.
Insider Buying and Selling
In other Gannett news, Director Laurence Tarica purchased 100,000 shares of Gannett stock in a transaction dated Wednesday, December 14th. The shares were acquired at an average cost of $2.25 per share, with a total value of $225,000.00. Following the completion of the transaction, the director now owns 753,244 shares in the company, valued at approximately $1,694,799. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.60% of the stock is currently owned by insiders.
Analyst Ratings Changes
GCI has been the subject of a number of research reports. Citigroup boosted their price target on Gannett from $1.70 to $2.10 and gave the company a “sell” rating in a report on Thursday, November 17th. StockNews.com upgraded Gannett from a “sell” rating to a “hold” rating in a report on Friday, November 4th.
Gannett Co, Inc operates as a media and marketing solutions company in the United States. It operates through two segments, Publishing and Digital Marketing Solutions. The company's principal products include 230 daily print media with total paid circulation of approximately 1.9 million and Sunday circulation of 2.2 million; 249 weekly print media with total circulation of approximately 1.4 million; and 292 locally-focused websites.
- Get a free copy of the StockNews.com research report on Gannett (GCI)
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